Accounting Glossary

a

Adjustments to income
Assessment
Accounting period
Adjusted basis
Appreciation
Accounts receivable turnover
Average tax rate
Accounting method
Accounts payable
Amended return
Accelerated depreciation
Amortizing loan
Accounting software
Adjusted gross income
Alternative minimum tax (AMT)
Amortization
Above-the-line deduction
Accounts receivable
Accrual accounting

b

Break even point
Business accounting
Bookkeeping vs accounting
Bank reconciliation
Balance sheet
Basis of accounting

c

Cost of goods sold (COGS)
Cash accounting
Capital loss
Cash flow statement
Chart of accounts
Cash method
Current year tax
Capital
Capital gains

d

Depreciation
Direct tax
Dividend
Dividend imputation
Deduction
Dependent

e

Exclusion tax
EBITDA
Estimated tax payments
Equity
Excise tax
Estate tax

f

Fixed assets
Fiscal year
Financial statement
Flat tax
Fair market value
Fractional ownership

g

Gross profit
Gross income
Gross profit margin
Gross profit vs Net profit

h

Household income
Health savings account (HSA)

i

Income tax
Invoice
Indirect tax
Inventory

j

k

Key Performance Indicator (KPI)

l

Ledger Balance
Liquid Assets
Ledger
Liquidity
Living Trust
Liability

m

Margin vs Markup
Margin

n

Net profit
Net Worth
Note
Net Income
Negative Equity
Non-liquid Asset

o

Options
Operating Margin
Operating profit

p

Payroll records
Private Equity
Periodic Rate
Purchase Agreement
Property Tax
Profit and Loss Statement

q

r

Rebate
Return on Investment (ROI)
Refinance
Roth IRA
Risk
Return on Equity (ROE)
Return on Assets (ROA)
Recession
Revenue

s

Self-directed IRA
Signature loan
Safe harbor
Self-employment tax
Sole proprietorship
Stockbroker
Schedules
S corporation

t

Trial balance
Traditional IRA
Tax bracket
Tax credit
Tax deduction
Tax deferral

u

Use tax
Unearned income
Unsecured debit

v

Venture Capital

w

Working capital

y

Year to Date (YTD)

z